Any investors who may have missed out on this spectacular growth in recent years should still consider the potential of the city as a place to expand a buy-to-let portfolio.
(PRWEB UK) 24 April 2013
Colordarcy analysts say that the rapid development of Istanbul in recent years continues to make it one of the best cities in Europe to invest in property and this is backed up by the recent research from Gyoder.
The prices of new homes in Istanbul increased by an average 1.02 percent between February and March 2013 according to the latest statistics, which adds up to an impressive increase of 29.3 per cent since January 2010.
Loxley McKenzie, Managing Director of Colordarcy commented; “Any investors who may have missed out on this spectacular growth in recent years should still consider the potential of the city as a place to expand a buy-to-let portfolio.
Property prices in Istanbul are still low compared to their equivalent in most Western European cities and rental yields of 8% mean that an investment in Istanbul property can pay for itself in the best areas.”
According to GYODER, property prices were outpacing overall inflation in Istanbul with a 1.02% increase compared to a rise in inflation of 0.66%.
Size is also a big factor in choosing the most profitable properties in Istanbul according to Colordarcy analysts. In the past 12 months, properties of more than 151 square metres in size saw the biggest increases in price with larger properties on the whole attracting the biggest increases according to Gyoder’s survey.
McKenzie added, “There are a lot of exciting new developments happening in Istanbul including the new airport which is set to be the world’s largest. There are also several ongoing infrastructure projects that are transforming the city and should make travel between districts easier and faster than in the past.
Interestingly, the Gyoder research also found that property prices on the European side of İstanbul were outpaced by the Anatolian side. According to Colordarcy analysts this is probably due to a combination of factors which include the arrival of increasing numbers of Gulf investors and the increase in housing stock on the Anatolian side which has risen significantly to meet demand.
Colordarcy analysts added that Turkey’s property market is still in an expansion phase and there are no immediate signs that the market has peaked.
Colordarcy are currently offering investors the opportunity to invest in Vie, Istanbul, a development that offers a 7% rental guarantee And 20% projected capital growth
The luxurious one-bed apartments in Istanbul include all modern conveniences with prices starting from just $96,000 / £62,000.
Notes to the editor:
Colordarcy is a leading property investment company that specialises in finding positive cash flow investment properties worldwide. Colordarcy investment property portfolio includes some of the best properties for sale in Brazil, Florida, Turkey and the United Kingdom.
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